Indianapolis tech startup Sigstr, which made headlines for joining venture studio High Alpha in August, has raised $1.5 million from prominent local and national investors, including former Aprimo CEO Bill Godfrey.
Sigstr sells software that helps companies manage email signatures, insert subtle marketing campaigns beneath them and take advantage of the scores of impressions made via email. Among other investors, the startup secured financial backing from LinkedIn executive Eduardo Vivas, San Francisco angel investor Steve Goodman, and High Alpha Capital.
"I'm delighted to invest in Sigstr and am incredibly excited that Sigstr has created a new channel for marketers in companies of all sizes across all industries," said Godfrey, who also runs the local investment firm 4G Ventures. "I am very impressed with our leadership team's vision to unleash email signature marketing as the gateway for employees and companies to get more out of every email send."
Sigstr plans to use the fresh capital to enhance its flagship product, add employees, fuel sales and marketing, and bolster customer service. The firm has 10 employees, with plans to hire more in January. It has more than 90 customers, including Indiana University and Delta Faucet.
In addition to the funding infusion, the company added Godfrey and Brandon Cruz to its board of directors. Cruz, who also invested in the round, is CEO of Chicago-based software firm GoHealth.
Sigstr CEO Dan Hanrahan, 37, started the company in summer 2014 after witnessing inefficiencies with corporate copy-and-paste email campaigns.
About a year later, Sigstr became High Alpha's first portfolio company. Former ExactTarget CEO Scott Dorsey is the managing partner at High Alpha, which creates and adopts business-to-business software firms.